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tv   Lou Dobbs Tonight  FOX Business  May 4, 2013 4:00am-5:01am EDT

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>> sometimes it's more regulations or better regulations. neil: what they did for fuel-efficient cars, have a great night. lou: good evening thank you for joining us sam lowry rothmans so another record-breaking day on wall street fuelled by the unemployment rate dropping to the lowest point* in over two years. the jobless rate dropping at 7.5% the labor department reports when hundred 65,000 jobs added to the u.s. payroll last month beating expectations. the employment increase of professional and business services in the manufacturing sector holding payroll steady despite reactivity slowing. this is all they needed as the perfect excuse to run dow jones industrial average
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briefly topping 15,000 going back and forth for the first time before settling at the close at 14,973. another record close of a triple digit gain with its 15th record close for the dow this year it is now up 14% on the year. the s&p 500 rises today also setting the all-time record high while at 1614. the second record in as many days and eighth record this year the is in peak at the threshold for the first time in its history now up over 13 percent so far this year with the nasdaq got 30 points this year the oriented index at the highest level over a decade of the wilshire 5,000 looking in gains of $200 billion total market cap at 12-point to trillion
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dollars. we will take up this with the best of the business with us in the capitol global equity strategist alex young. president obama and displaying what he has not been known for good timing the president of mexico talking resurgent with all of the day's good economic news back home he sees of the opportunity to call for even more government spending. our chief white house correspondent has the report >> as president obama continue to talk up the economic resurgence in this hemisphere as the focus of his three day trips south of the border. >> trade and commerce create good jobs florida people. >> the labor department
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reports the unemployment rate dropped seven point* 5% the lowest level in four years that more people were finding jobs than leaving the work force and in the dish with april's gains the government revised the february and march numbers suffered by a total of 114,000 jobs. >> we are gaining jobs over 160,000 and unemployment has taken down. >> there were still major warning signs they are struggling in not a single new job in april while construction employment fell for the first time in one year. the commerce department said orders to factories fell in march by the largest amount in seven months and 11 point* 6 billion workers who wanted jobber still unable to find one. >> we have to get this economy going, and not raising tax rates to have more people working we could do would it not for the drag of the president's health care law.
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>> their use in the jobs report to sage to and the sequester cuts and the president spoke of more government spending on both sides of the border. >> with remember every dollar that we invest in research and development concerns such march are economy with jobs and opportunity and products. >> a soft spot for the president is used and a planet with the new jobs report showing the effect of an employee rate for young people if you include those looking for work that has given up a 16% the highest level since world war two. >> are generation is graduating college with this desire and passion to make a difference coming into an economy was stagnant with no limit -- new jobs in their the opportunity. >> the rnc chairman criticized the media and the president for not bringing up the jobs at the a news conference on tuesday although officials say in the weeks ahead the president will be traveling
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around the u.s. pushing the economic message. lori: end henry. chief white house correspondent. when next guest says reducing resiliency to support moderate economic growth. chief american economist juliet, nice to me you. >> good to be here. lori: we have been talking about the report all day better than expected. unemployment falling and 7.5%. the two prior months of upward revisions with another 114,000 jobs added that if you look under the hood, some components i found troubling. what is your take? >> i agree. it is a relief from the with upwardit is not as bad reset --evisions but there is a concern of the quality of jobs a lot of service sector restaurants and
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retail and jobs that is a good thing but in terms of a lot of them are not benefit paying jobs. lori: i huge herd -- surge of 270,000 part-time jobs without broader measure of unemployment to include part-time workers at 13 point* 9%. these are workers at wed prefer to be employed full time but that is the trouble spot. >> that is the ongoing problem that the numr of people who are working part time machine they're working full-time remains very elevated getting to the quality of jobs and the amount of income generated and therefore the gross momentum we can expect. lori: but though links of the workweek for on-the-job shortened. a short period of time it was a fraction of an hour but it was shorter
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nonetheless and compare with e number of part-time jobs that were added that prefer the unemployment and consider obamacare will start very soon and to have these businesses that are considered 30 hours a week. does it say perhaps obamacare is more destructive to the job situation than supportive of it? >> it is hard to parse these out. we know obamacare as well as other regulatory issues and uncertainty is a restraining factor for hiring. we do know the number of temporary workers and part-time workers remain very very high. there is a hesitancy to commit full-time workers it weather for cost reasons of obamacare or a general uncertainty it is hard to disentangle those but they continually cite regulatory
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uncertainty and brodeur or global uncertainty as reasons they are so cautious lori: if you step back 165,000 new jobs created, what four years into the economic recovery this is all we got? ideally to reach a maximum of full employment? >> where we are a is we continue to be effectively tread water. we are growing but not the hold steady also know fear we are sliding into a recession. lori: that is why it is a rally. >> profits are reasonable and robust but we're not getting the transition into the stronger hiring and income growth and consumer spending for the next level. >> your first quarter take
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was disappointing 2% s what does this jobs report say whether we say for the climate for the economy? >> we are expecting a slowdown at 1% growth, the fading of the hurricane sandy providing a boost earlier on. >> and then the sequestration spending cuts to take us down a notch as we observe that. overall with the underlying basis running around 2 percent where we have been the last three years. >> government spending was a huge strain on gdp and that was taken before the sequestration went into effect. it is troubling. >> is a struggle with a disappointing recovery overall. lori: the key for your analysis. much more with a
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record-setting day on wall street and looking at the market's with our equity strategist in a moment. >> gun-control round to. as senator cruise challenges the president to a debate. the widow of one of the boston bombing suspects under new scrutiny what did she know indicia cooperate with the authorities? the latest details next.
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and eyes with a set the weekend record highs on the dow and s&p 500. we will ask alec young if a correction is emerging before recheck and with him
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let's look as some of the numbers on wall street a great day and effective this week for stocks. a record high for the dow the mid 25 of the dow 30 stocks up today and another record high for the s&p 500 more than 10 percent hit all-time highs. the nasdaq stays in the party with a far cry from the record high hit back on march 10, 2010. 3.6 billion shares traded hands today. and also nasdaq was the clear winner up 3%. if you have a good insight to load up on these five stocks on march 9th, 2009 you are sitting pretty up more than 1900% will get those gains those are typos in the commodities market gold ended the week with a loss but it gold was pushed higher with record high
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inventories but people are thinking the economy is in grossi mode. , a g sell-off in the bond market today pushing bond yields higher on the back of the job report the treasury shows the interest rate of 4%. my next guest there is still room for to move fire here it with his outlook is alec young. grt to me you. the jobs report set the tone for the market this morning is it an excuse that the bulls were looking for or is there a good fundamental reason that pushed oil up as well? all with the expectations of growth. >> there is a good justification what we see is we have the fed keeping interest rates very low stimulating the economy getting that investors to move into the risky assets
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and there is evidence the said is succeeding to jump-start growth with gradual improvement in the job numbers around 165,000 jobs today that is more than 140 expected and there is a sense the economy will continue to appeal into 2014 with corporate earnings and revenue will go along for the ride. the stock market is still not that expensive by historical measures and rethink it has further to go on the upside. lori: river from the fed is it full steam ahead? we will continue with their record lows with asset purchases and people are critical because it has been going on for so long. but the wealth effect creates the stock market bubble? >> we don't think so. it is a goldilocks scenario where it is good enough to give people confidence that
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the earnings from the company will be there but not so strong they can remove the stimulus. they try to get people to invest in stocks to get the economy going and there is record help with the corporate balance sheets so it does not look like a bubble will get the balance sheets are the p/e ratio it is not like the stock, companies where there was of bubble. that is not the right way to describe this. lori: but what about the earnings season revenue is on a 45% of companies beat on the top line? >> when you buy stocks you invest in the stream of earnings that have been coming is significantly better than expected and greece -- as we continue to get x dictation speeten with the reports the economy will kick and got fired tear and the revenues will take care of themselves. lori: you think this
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sluggish economy they say no, it is it great that the new normal is robust enough to support the stock market? people say there is a disconnection but let's just joined up party. don't fight the fed just enjoy the party how much more room is there to run the? >> the s&p could get up at 1670 so another percentage points with cash and bonds rethink the stock market could still do that. lori: what are their risk factors? >> if the economy does continue to recover with the rabil risk the fed will remove the punchball the that is a high class problems of the fed steps away the means the economy could stand on its own feet that occur it
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creates a wobble but where it dictates we should invest is relative and a 10 year bond yields earning almost nothing of money markets and the cd we would stay with the market. yes you will get a pullback but we think it is the best asset class for most people to build wealth. lori: and your trading is very crowded. we appreciate your comments. new leads in the boston attacks have investigators on the hunt again. obama takes them control message across the border into one of belief who he is pleading for the horrific on pleading for the horrific on violence in mexico. ♪ music
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lori: a new details emerging in the investigation into the patriot's day terror attacks in boston. authorities believe they have pinpointed the location
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where the brothers constructed bombs now also turning on tamerlan tsarnaev widow and what involvement she had with the plot and 0 million security making a policy shift in the wake of the arrest of the evidence trying to be hit by students in this case and katherine harris has the report. >> one day after homeland security officials confirmed that a student from caused exxon was charged with destroying evidence in the boston marathon investigation a major security changes ordered at the borders. effective immediately customs agents must verify every four students entering u.s. has a valid student to be separate and he withdrew from class's january 4th and re-entered into weeks later because customs was never notified of the change former homeland security officials said policing a student visa within 500,000
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issued in 2012 as a chronic problem. >> the customs your visa is expired but then who enforces it? boston says a must be better cooperation is there if they believed the bombs made in the tamerlan tsarnaev home now investigations are intensifying on his widow catherine russell spinach she might not have nobody raises the question as to what did she know? what was their relationship at the time? >> to sources familiar tell fox news she communicated with her husband after the bombing. one source said it was at least one phone call with the second source describing an e-mail with an attachment with a surveillance photo released by the fbi. >> she had a conversation after the event of the marathon and had conversations before and. she saw his change of attitude she has some
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explaining to do or difficult questions to answer. >> a the office confirmed that the storm surges of dzhokar tsarnaev our on going to the bombing investigation. no explanation is given by the lingering question is whether the brothers had a testing site nearby for the homemade bomb. >> investigative source says the al qaeda magazine inspired for the instructions was found on the computer's examined by the fbi. did not indicate if it was found on catherine russell or her husband or her brother-in-law. lori: president obama blaming the united states states, the u.s. for gun violence in mexico. he is attempting to convince his audience that gun-control laws passed by the u.s. congress will benefit mexicans. listen. >> we also recognize that most of the guns used to
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commit violence come from the united states. [applause] i think many of you know in america our constitution guarantees for individual rights to bear arms and i swore the last couple that right and i will but at the same time that i have said in the united states will continue to do everything in my power to pass common-sense reforms that keep guns out of the hands of criminals and dangerous people. lori: the president did not mention the "fast & furious" gunrunning operation that led to thousands of weapons lost in mexico. meanwhile a different message on gun control as 70,000 people take part in the nra convention. the next guest has been as clear a conventional data senior opinion editor for "the washington times."
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>> thank you for having me. >> what is your impression for the president blaming the west? >> is astounding the president of united states is so desperate to infringe on second amendment rights he will tell mexicans one of the reasons is to make them safer. as soon as i heard the speech i interviewed governor rick perry here in texas and he was literally speechless and took a few minutes to recover and he said i am incredulous the president would go to mexico to say this is what we're doing and this is exactly the reason the president has complete disdain for the constitution that and once do disarm the public. lori: as a sidebar i read your piece and he does not rule out another run for president? >> interesting. i thought he would have on and he's and i will make a decision by the end of this year in 2013 and i thought i got the impression he was
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leaning in that direction. lori: back to the nra meeting james porter his'' it is not a battle of dendrites it is a culture war but is he too soft or did you want to hear him co out stronger? >> hit is interesting he is taking over the presidency and david keene has been on fox a lot and is very comfortable with me and other reporters but he is a different type of president less comfortable with the media, publicity shy but he agrees when he brings to the table is the is a lawyer to build a legal team because the nra said the almost won the fight on capitol hill. reid on see anything more will happen there. we're keeping vigilance but where this goes now is in the courts in the states because the push back of the laws colorado, connecticut, maryl and they are so radical an
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unconstitutional and somebody like jim porter has that legal brain. lori: using jim porter would be behind senator mansion as the is reintroducing some of bill to require criminal background checks? teasing us a president would support getting behind a bill like that? >> absolutely not the nra is opposed to his efforts and senator jimmy has already dropped out and there democrats and republicans to keep and bear arms they will not support expanding background checks of what they are doing correctly with all the meetings this week that they want to get the fbi background check six so mental health records are put in them. they're not ready also get a prosecution's those who are crazy the obama if ms. --
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did registration is in prosecuting they're walking out and not getting caught it is a felony charge so that could make the country safer than protect the children that is what the nra board is doing. lori: senator crews at the nra meeting here unchallenging a the president saying he will go on a speaking to our with tighter gun control the things that could happen? >> i don't think bided would do that because he doesn't know what he is talking about. ted cruise was a plaintiff and he knows this stuff the joe biden tells people does not have a lot of credibility on these issues and did not do with the senator because the is that vice president but whether the nra president or other is that with love to debate
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mike lambert scored bided because they have the facts on their side but unfortunately they will not debate the people and have retired -- turned down repeated requests. lori: by bloomberg has deep pockets spending 600 million on the anti-smoking campaign and the vice president and also such a tall wall. >> a bloomberg money changes the dynamic. maybe this is the biggest fight against gun-control and 20 years i say it is worse because of the fact with the billionaire, michael bloomberg, who can and will fight them tenfold he spent $12 billion in three weeks for the senate race. but the nra has 5 million law-abiding americans with an amazing grassroots operation and so fully in
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gauged and i saw that this week at the meeting. lori: thank you for joining us. and more on the ted cruise challenge later. >> 100 days into the second term and what does the president have do you show for it? he is already in the lame-duck status. hundreds of firefighters fighting potentially deadly about fires burning in california. the latest details ahead. and "dobb's law" is on the and "dobb's law" is on the [beep] [indistinct chatter]
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lori: after a four month trial of the jodi arias murder trial now in the hands of the dirty. she is accused of stabbing her for former boyfriend 27 times living in the throat and shooting him in the head. today's closing arguments
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were delivered asking jurors to keep an open mind even if they don't like her. >> is not even about whether or not you like jodi arias. nine days out of 10 i don't like jodi arias. >> sustained. please disregard the last eight minutes. >> but that doesn't matter. spent the defense attorney told to see if she snapped after mental and physical abuse it is an act of credit -- premeditated murder and we have defense attorney and public defender with us. fred, during that whole peace you were shaking your head. what do you think of her defense attorney? that i don't even like her. she looked surprised. >> she started laughing.
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she is on trial for murder for her she butchered a man 27 times and started laughing. that is a critical part of trial and this whole part of how she killed him in a fit of passion, that woman butchered than it was clearly rage that drove her. lori: that is a fair point* you cannot send someone to prison for the rest of their life for sentence them to death just because you don't like somebody. >> the core issue is premeditation. i disagree with fred. i think he did a great job today. he laid out a whole story. he took the gloom he needed to bring together the pieces of evidence to show that jodi arias had some many opportunities to shoot and kill travis alexander at the house and she did not do it. she was taking photos of him
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with a face up against a shower with his back to her she had ample opportunity to kill him and she did not do it. >> come on. >> you are not judging the case based on we are maddening griot her for what she did. she is a lunatic. >> we are judging on the evidence and the compelling federal states evidence that shows she butchered this guy and the only evidence that she suffered anything from the words of her mouth and she lied about every single thing. not a crime of passion. you come home to find your spouse doing something with the whale and plastic this was pure unadulterated rage and premeditated from the gas cans to the gun to the knife to cleaning up and putting a camera in the
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dishwashing machine and having? with a guy with a false sense of security then slaughtering him when he was down on the ground as what the evidence showed. lori: that is disturbing. death penalty? >> absolutely. >> this has been the longest , i don't know but i feel this has been a never ending case. >> i think it will be a hung jury on first-degree murder i don't think they will buy the fact she planned a nice deal she went over there to work things out and there was the intervening events the camera fell and the confrontation in sudan she had to kill him. >> second degree murder. >> why would she use a credit card to buy gas and stop in monterey?
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>> you are a great defense lawyer if i am in trouble i will call you. in the meantime there is overwhelming levitt -- evidence of premeditation and it makes no sense it is inconsistent from the time he was shot he was already dead so she lied about every single thing. what you talk about the only evidence are her words that are worth less. lori: obviously it is a salacious case i am sure on times buy one get your take on the boston bombing suspect. the role of the widow says she played no part she is not cooperating with anybody investigating the case. it looks like tamerlan tsarnaev made the bomb in their apartment. >> she knew about this nd took one stop -- one step it is an overt act and to be guilty as a covert conspirator i would invite her in two seconds. lori: what is your take on
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the fact university of massachusetts dartmouth is trying to protect privacy? that is bringing up controversy. >>ooking at the federal law there are two exceptions releasing its affirmation of the other suspects. the first is there is a subpoena that applies for all detectives have to do is serve a subpoena to turn over information. the other is that if there is a safety or health emergency, a clearly and there's a safety emergency resulting from the bomber. i think this exception flies well the university should release the information. lori: and thank you. a lot is going on today. up next a series of wildfires raging across southern california with weather conditions putting
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entire neighborhoods in peril. peril. the latest is next.úúúúúúúúúúúúú ♪musicú ♪the more i search0forú my significance,♪ ♪seems0r ♪and0die ♪in anyú i've been0here♪ ♪and0i0ú laughter♪ ♪it's tp i've ever knownp♪ ♪i0don'ú happensp♪ ♪but i0e ♪and0i0u ♪and0afú sometimes0i0see the truthp♪
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>> danger burning out of control with more than 3,000 firefighters fighting multiple pleases. homes and businesses still threatened and authorities continue to evacuate those in danger. high wind and extremely dry conditions fuel the fires and the l.a. area has received less than 2 inches of rain. but the good news is no reported deaths and a slight chance of rain before the weekend for the pentagon of grading the 30,000-pound bunker busters' baum. capable of destroying ibm's fortified underground site. it was rebuilt with the new guidance system that allows it to burrow deeper before exploding.
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officials see it is critical to convince israel it can prevent iran from getting a nuclear bomb. the obama administration has warned about the devastating effects of sequestration on the military but they have plenty in the bank for a few program of purchasing review -- tools in the march contract shows it could amount at 16,000 gallons. in perspective conventional jet fuel costs dollars and the $0.3 per gallon. you do the math. the chinese national was accused on spying on nasa was stopped with his national -- an asset issue that top it turns out it was not full of classified documents but illegally dominated copyrighted movies and sexually explicit films films, of pornography. right? yesterday he pled guilty to the misdemeanor charge and
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has 48 hours to leave the country. review live or eat or brief there is that chael for you. espn and the southeastern conference will launch the new channel next year including 45 football games games, 100 men and 60 women basketball games baseball games and 17 other sports in the guys are thrilled about that. up next revealing admission from chuck schumer about the perils of obamacare. the "a team" is here with me to shake that up next.
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lori: breaking news fox news jennifer griffin reporting tonight that israeli warplanes struck syria overnight. the weapons warehouses believed to be the target. obama and costa rica just said he does not envision any scenario that would require u.s. troops, not require u.s. troops in syria this story is developing we will give you more information as we get it. joining me now is the "a team." we went to begin with you because you have comments on israel and we know they have chemical weapons and they have tried in the past to develop nuclear weapons. we know that president day software do anything to stay in power and if the israelis do our work for us to take out the weapons storage facility i think that is
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only good news. lori: today and have that capability? >> yes. >> you have been very critical. >> i am very critical of the united states government with the obama and what he has not done. the president said he had a red line with syria there will be chemical weapons used that the united states would act now having been to israel and in that part of the world it is not a hypothetical just over there somewhere. you can look into syria for what the president had to do and i am disappointed united states once again leading from behind. lori: let's talk about the headline economic news. >> i disagree. iraq? weapons of mass destruction that we find them in syria? again delivering bags of cash.
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you want us to get involved in the war is serious than iraq? where will we get all this money from? it is their business. it is not our business. stay out of that. >> please engage me ws an economics because that is feistier than this discussion. we'll be back with the "a team" in a minute.
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hmm. [cell phone beeps] hey! [police whistle blows] [horns honking] woman: hey! [bicycle bell rings] turn here. there.
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>> the jobs report shows the u.s. economy on the upswing. we are back with the "a-team." >> yes, it is either wireless or robots or electronic, mechanical, so we will go up and down, but it will never get back to the way that it was when mom
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and dad were raising a subcontracted work a job and mom stayed home. it is not going to happen. >> 9.5 million jobs lost under the obama administration sophia. i mean, this is a troubling sign that we are excited over 100 something new jobs. >> labor participation, people are working. they are working fewer hours. i mean, there just is not the space and the economy for enough good paying jobs for people who need it. >> part-time workers, this is where we find more part-time workers. we have obamacare coming into play. workers don't want to have to pay for all these health care coverage expenses. yohave a crisis of good quality jobs. >> 40% of college graduates are
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underemployed or need more training for jobs in this economy. were graduating kids don't know how to compete in this economy. obamacare is a looming disaster. we have companies that are saying that i'm going to have a employee that has to be cut back so they can be part-time, the crisis that we see now is going to be worse on favorable correct kicks in. lori: what you think needs to be done for this job situations situation? >> young people mustave to earn some credibility in the workforce and get a job first. you know, this entitles me to this kd of job or that kind of job. maybe, just maybe, you will have some history. but right away, they want to go right to the top. they are not living in the real world today. they will have to scale back and isolate its. >> okay, it's a story that has aldus chuckling.
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our security attacks are coming towards this wave of attackers. >> it is more than hackers and the new wave of people. it is military and state-sponsored, cyberattacks from china. >> they are well on the way to being crippled. >> it turns out that the guy was just checking out these materials. >> yes, but i guarantee was taking my laptop back with him. gentlemen, thank you so much. all right, that is just about it for me tonight, i am lori
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rothman sitting in for lou dobbs. coming up, author andrew mccarthy and house oversight committee member trey gowdy. you can e is that confetti. >> hello everybody by m jerry lewis. the housing market is roaring back what a great tax are thehe trading week. buyers getting the shaft? what is going on with celebrities? thumbing their nose at the law? >> our top story